Atlassian (NASDAQ:TEAM) Given New $250.00 Price Target at Oppenheimer

Atlassian (NASDAQ:TEAM) had its price target lowered by Oppenheimer from $300.00 to $250.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

A number of other research analysts have also commented on the company. Piper Sandler lowered their price objective on Atlassian from $225.00 to $200.00 and set a neutral rating on the stock in a report on Friday. TD Cowen lowered their price objective on Atlassian from $220.00 to $210.00 and set a hold rating on the stock in a report on Friday. Citigroup lowered their price objective on Atlassian from $280.00 to $265.00 and set a buy rating on the stock in a report on Friday, April 12th. William Blair reissued an outperform rating on shares of Atlassian in a report on Friday, February 2nd. Finally, Truist Financial lowered their price objective on Atlassian from $220.00 to $200.00 and set a hold rating on the stock in a report on Friday. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Atlassian has an average rating of Hold and a consensus price target of $223.22.

Atlassian Stock Performance

Shares of TEAM opened at $179.45 on Friday. The company’s fifty day moving average is $199.98 and its 200-day moving average is $206.53. Atlassian has a 12 month low of $128.02 and a 12 month high of $258.69. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.24). The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Atlassian had a negative return on equity of 15.54% and a negative net margin of 3.90%. Analysts predict that Atlassian will post -0.4 earnings per share for the current fiscal year.

Insider Transactions at Atlassian

In other news, CAO Gene Liu sold 227 shares of Atlassian stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $48,321.49. Following the sale, the chief accounting officer now owns 47,066 shares of the company’s stock, valued at approximately $10,018,939.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Joseph Leo Binz sold 601 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $127,934.87. Following the completion of the transaction, the chief financial officer now owns 101,447 shares in the company, valued at approximately $21,595,022.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Gene Liu sold 227 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $48,321.49. Following the transaction, the chief accounting officer now owns 47,066 shares of the company’s stock, valued at approximately $10,018,939.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 300,450 shares of company stock valued at $61,721,553. 40.48% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Atlassian

Several hedge funds and other institutional investors have recently modified their holdings of TEAM. Baillie Gifford & Co. lifted its position in shares of Atlassian by 20.7% during the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock worth $2,094,980,000 after buying an additional 1,511,318 shares during the period. Morgan Stanley raised its position in Atlassian by 156.8% in the 3rd quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock valued at $361,449,000 after purchasing an additional 1,095,297 shares during the last quarter. Norges Bank bought a new position in Atlassian in the 4th quarter valued at $247,740,000. Vanguard Group Inc. raised its position in Atlassian by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after purchasing an additional 504,181 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Atlassian by 3.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,237,507 shares of the technology company’s stock valued at $2,435,095,000 after purchasing an additional 326,673 shares during the last quarter. Institutional investors own 93.03% of the company’s stock.

Atlassian Company Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.